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20121202
20121210
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KPIX (CBS) 31
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English 31
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of years. >> looking for more signs the economy is picking up steam? check your holiday party's itinerary. >>> why the end of the dome might be blamed on some otherwise good news. >> good evening. i'm ann notarangelo. new tonight, a brash home invasion in san francisco. three me with a gun chased a woman into her home near the intersection of 31st avenue and clement street around 6:30. a neighbor tells us when the woman's father got to the house, she screamed, don't come in, don't come in, but it was too late. the robers got away with jewelry, but no one was hurt. >>> oakland police are investigating their third homicide this weekend. the latest happened near jack london square this afternoon. the victim was pronounced dead at the scene. an id has yet to be released. police are still looking for the shooter. >>> a bomb squad blew up a pipe bomb at college park high school this morning. two teens were arrested for possession of explosives and were released into their parents' custody. police say the teens also blew up a mailbox a few blocks away. >>> a supermarket in concord is back open t
the divisions in washington are may be so large we will harm our economy and harm our problem as they fail to solve problems and work these things out. over the past year, we have been joined by 300,000 saturdays, 100 of the leading ceoas, and small businesses who have said we need fix the debt, that we know. but we wanted to create a different kind of campaign where we come to washington, and while you have so many folks on side saying, "don't touch this. don't touch this. take this off the table." suddenly you're left with nothing on the table to fick the problem. we wanted to create a broad-based bipartisan group to work with members of congress to come up way deal. over the past week, we met with over 50 members of congress. we had very productive meetings with both the white house and the republican leadership basically saying we know we need a plan that will be big enough to fix the problem and biexprs balanced, and we want to help you come to that-- >> schieffer: let me just talk to you, mark zandi. you're our economic forecasters. ent to just go back to the beginning to try to help
this affecting the economy? the one sign we did see yesterday showed improvement. roe unemployment rate dipped to 7.7%, the lowest in four years. 146,000 jobs were created in spite of super storm sandy and the fiscal cliff threat. joining us now to talk more about that cliff is mark zandi, reief economist at moody's analytics. mark, is that threat credible? i guess we saw hiring last month, the stock market is hanging in there. what's the feeling on the part i thorporate america? bu well, you know, i think businesses feel like we're going deget a deal. they expect the president and house speaker boehner to come together and get this done. if they didn't, they'd be laying off workers, and as we can see by the data they are not doing nhat. eut they are cautious, and appropriately so. washington can botch this so gtey aren't very aggressive with their hiring. ehey pulled back on their pnvestment on their advertising. wey also realize tax rates are going up next year, so what they're doing is announcing special dividends and pulling dividends forward into this year because they realize that tax ra
of an agreement that's good for the economy is if a group of republicans decide they're going to block and increase in tax rates on the wealthiest americans. i think it's unlikely they will choose to do, that of course, because there's so much at stake. >> schieffer: in all seriousness, i'm told mitch mcconnell laughed when you handed in this proposal. is that true? >> they're in a hard position, bob. they really are in a difficult position. and they're going to have to figure out their politics of what they do next and they're trying to figure that out right now. we're going to work very hard at this and we're going to keep talking to each other. and, again, i think we have a very good chance for coming together on an agreement that not just protects 98% of americans from a tax increase and protects the economy from deeply damaging upfront spending cuts and protects the med from leaving us vulnerable to, you know, periodic threats of defaults by politicians, i think we can do better than that and do something good for the long-term future of the american economy. >> schieffer: did you
and boy were they surprised. the economy created 146,000 jobs in november. not great, but a lot better than expected. the unemployment rate dropped stlytenths of a point to 7.7%. that's not quite as good as it sounds because it was mostly people who gave up looking for work and were dropped from the count. what does all of this mean to the recovery? here's anthony mason. >> reporter: the u.s. economy ndntinued to add jobs in november, despite worries about a looming fiscal cliff in washington and the effects of a k perstorm in the northeast. >> thank you very much. or reporter: at chobani, the greek yogurt maker based in new york, c.e.o. hamdi ulukaya has been hiring. how many employees do you have? >> close to 2,000. >> reporter: the turkish-born ulukaya started chobani just four years ago. since then, greek yogurt sales re g exploded. chobani is now nearly a billion- dollar business. >> think we're going to be over 5,000 to 6,000 people by five years. >> reporter: so another 3,000 or ll000. th yeah. >> reporter: nationally job f owth has been steady but slow. so far in 2012 the econo
a lousy jobs report out of november. so this was a pleasant surprise, the economy added 146,000 jobs last month. not great by it's a -- but it's a lot better than expected. it dropped to the lowest level in four years. mostly because of the people who stopped looking for work. >>> well, there are other indicators that the economic outlook is improving. for years companies have been cutting back on holiday parties. this year, local restaurants and party venues say the parties are back. cbs 5 reporter don knapp is in san francisco where more employees are celebrating the season. don? >> reporter: ann, i don't know how reliable this is as an indicator of the economy but they're counting office parties can they're really up. when the economy goes bad first things to go are the perks, but right now it looks like the parties are back. they're back. holiday office parties. this isn't one right now but pier 23 is all pumped up about parry reservations. >> it's getting off to a good start. we have quite a few parties booked. had a few yesterday. >> reporter: chased away so many office parties over
a very fragile economy and an emerging and helpful nation and you can't tax your way out of this baby. this is impossible. and when these people zero in-- as erskine said they zero in on taxes, taxes, taxes, we said you've got revenue one to four, three times spending cuts versus one of revenue, but you go into the code and like this one, you go to home mortgage interest deduction and the housing industry guys, all the lobbyists go nuts. we said, look, we're not going to take it away from you but it doesn't need to be a million buck on a second home. we said take it to 500,000, give everybody a 12.5% nonrefundable tax credit which helps the little guy. and they go, "oh, yeah, i guess that might work." everybody is in the game. this will be savagery, full-page ads, ladies, old charge, veterans, simpson-bowles are doing their tricks out there. hang on tight. it's going to be a real, real struggle. >> schieffer: let me just ask you, you caught a lot of people's attention, including ourselves last week, when you did this video on internet to try to get young people-- >> eskind, will you q
in four years. the economy added $150,000 last month. that dropped the unemployment rate down to 7.7%. those numbers do come with a grain of salt. more people stopped looking for work, therefore were not counted as unemployed. >>> stocks closing mostly high on wall street after the better than expected job report. the dow was up. the s&p 500 edged up no. however the nasdaq drop 11 points. >>> with the edge of the fiscal cliff fast approaching, only 25 days, going over it threatens to ruin the holidays for millions of americans. danielle nottingham says republicans are waiting for the president to make the next move. >> vice president joe biden at lunch with middle class americans who will take a $200,000 hit if their tax cuts expire. >> this is no time to add any additional burden on middle class people. >> while the white house is pushing congress to renew middle class tax cuts, the president says he won't take any deal that won't extend tax cuts for the wealthiest americans. >> it will take 15 minutes from the time the decision is made by the speaker of the house to pass and make
that's wa ood for the american economy is that a group of republicans weade they're going to block e's increase in tax rates on wealthy americans. >> reporter: geithner says he's optimistic a deal is possible. even as a key negotiator tells bs news the deadline to reach 15tromise is december 15th. e foress needs time for the rocessative process to work. to the house and senate to pass presidentnd for the president to sign it by december 31st. >> right now i would say we're eportee. period. we're nowhere. >> reporter: calling the president's plan to avert the asking fiff a nonserious proposal. th ohe president is asking for $1.6 trillion worth of new revenue over ten years. twice as much as he's been asking for in public. excee stimulus spending in here wast exceeded the amount of new not ahat he was willing to consider. it was not a serious offer. > i think we're going over the cliff. it's pretty clear to me they've ode a political calculation. this offer doesn't remotely deal with entitlement reform and a way to save medicare and medicaid and social security from imminent bankruptcy
toll it's taking on the economy. >> and a big sinkhole in the ground and a new storm on the way. we are learning how long an east bay neighborhood could have to live with this mess. >> and we're live in san francisco where all muni trains are back up and running after a power outage caused all of them to shut down last night. i spoke with the muni spokesman on the phone who says how they were able to get back up and running so quickly. ,,,,,,,, look at you guys with your fancy-schmancy u-verse high speed internet. you know, in my day you couldn't just start streaming six ways to sunday. you'd get knocked off. and sometimes, it took a minute to download a song. that's sixty seconds, for crying out loud. we know how long a minute is! sitting, waiting for an album to download. i still have back problems. you're only 14 and a half. he doesn't have back problems. you kids have got it too good if you ask me. [ male announcer ] now u-verse high speed internet has more speed options, reliability and ways to connect. rethink possible. you won't take our future. aids affects us all. even babi
to squeeze every last dollar out of a shaking economy. >>> new boots became an instant online hit but today a homeless new york city man is back on the streets and barefoot. the "new york times" found the man identified as jeffrey hillman wandering barefoot in manhattan last night. when asked about the $100 boots that a new york city officer was seen giving him, hillman said he had hit them because they are worth a lot of money. hillman told the reporter he was grateful for the gift but was also wants a piece of the pie apparently saying the photo of him receiving the boots was posted online without his permission. it was an arizona tourist who witnessed the gift-giving. her photo went viral after it was posted on facebook. so... he wants a piece of the pie. >> i guess. what does that mean? >> he got boots. he should be happy with that. >>> let's check the weather. >> we can relax for a day after stormy weather around the bay area. we are catching a break between all those storms and we can use it. you know what, hi-def doppler has been very busy but right now very quiet as there are no rai
billions of dollars according to economic forecasters. that's a big blow to an economy just getting out of a crisis. >> the strike is not only costly to the economy, it could also delay shipments of merchandise to be shoulder over the holiday season. >>> time now 6:40. tech gadgets are the hot items on this year's wish list. cnet's brian cooley is here to break down the top picks. >> the early numbers on the stock market a mixed bag. lots of time though. we'll chat about it with jason brooks when we come back. be at bank of america, we're continuing to lend and invest in the people, businesses, and organizations that call the bay area home. whether it's helping a nonprofit provide safe, affordable housing within the city, supporting an organization that's helping kids find jobs and stay in school, or financing the expansion of a local company that's creating healthier workplaces, what's important to the people of the bay area is important to us. and we're proud to work with all those who are making our communities stronger. powerful typhoon in the philippines. typhoon bop (boe-pah) roar
of the discussions both in terms of the impact it has on our finances and our economies. >> reporter: state government cost lose much-needed federal aid if democrats and republicans don't reach a deal to stop automatic spending cuts before the end of the year. the other issue is taxes. congressional republicans want bush-era tax cuts extended for all americans. president obama says those tax cuts must expire for households making $250,000 or more. >> it's a position that is supported by a majority of the american people. and, you know, we need to see from republicans an acknowledgement of that. >> reporter: the gop proposal that the white house quickly rejected closes tax loopholes and reduces deductions to raise 800 billion-dollar in new revenue. the plan cuts $600 billion in healthcare entitlement programs. >> we are overspending and until you deal with that issue you cannot raise taxes enough to be able to keep one a trillion dollars of accelerate spending. >> reporter: republicans dismissed the president's plan late last week. but now that both sides have numbers on the table, some con
of being pumped into the economy. those in favor of allowing the tax cut to expire argue money for social security payments has to come from somewhere. although he says that somewhere will mean doing without some of the basics. >> it might be a pair of sneakers. it might be the jacket they want to go to school with in the winter. >> the debate in washington is not about the federal budget it's about his family's. jim axle rod cbs news west new york new jersey. >> where in the world is john macafy. why he high tailed it to a luxury resort to try and clear his name. >>> plans to build a little dog park turned into an epic fight in one bay area city. (car horn) paying with your smartphone instead of cash... (phone rings) that's a step forward. with chase quickpay, you can send money directly to anyone's checking account. i guess he's a kicker... again, again! oh, no you don't! take a step forward and chase what matters. fire. and in this case, bushels of pot, as well. a two-alarm house fire in te haight led police to a sizee grow operation. police ended up pulling out bags of marijuana plant
. thank you. >>> good news for the economy. the job reports was 146,000 new jobs were a added last month and unemployment dropped to 7.7%, the lowest in four years. superstorm sandy caused work interruptions in the northeast but the weather had a minimal impact on the employment. >>> and millions of people receiving extended unemployment would lose them without an agreement to avoid the fiscal cliff sometime soon. here's danielle nottingham with where both sides stand on this friday. >> 2, 1. >> reporter: before the first family lit the national christmas tree, president obama said the mandatory spending cuts and tax hikes that could kick in 25 days from now are threatening to ruin the holidays for millions of americans. >> the american people are counting on this getting solved. >> reporter: the two parties are leaving negotiations to the two main power brokers, president obama and house speaker john boehner. >> if the president doesn't agree with our proposal, he has an obligation to families and small businesses to offer a plan of his own. a plan that can pass both chambers of the con
a lousy jobs report today. boy, were they wrong. the economy added 146,000 jobs last month. not great but it's a lot better than a lot of people expected. the unemployment rate dropped two-tenths of a point to a four- year low, though it's mostly because of the people who stopped looking for work altogether. >>> a couple of crooks out to make a quick buck got a rude awakening. they ransacked a community theater in pacifica. then christin ayers says they fell asleep on the job. >> reporter: a pacifica children's theater where kids as young as seven have been hard at work rehearsing for their holiday show, the last place you'd think thieves would target in the hallway was totally messed up. the offices, things were thrown off the desk. >> reporter: but that's how natalia found the school of performing arts ransacked and robbed, a door handle broken, and everything from costumes to set pieces pillaged. what employees never expected to find was the thief himself, hiding out in the theater. >> falling asleep at the scene of the crime isn't really the smartest thing to do. >> reporter: yet
the u.s. economy $1 billion a day. >>> all right, roberta gonzales. in for paul deanno, good to see you. >> always good to see you, dana and allen. [ laughter ] >> both of you. i think you guys just allowed me it come in to dry off for a couple of days here after a soaking week. boy, today did we have plenty of precipitation around the bay area. good evening, everyone. let's go ahead to berkeley where today, nearly 9/10ths of an inch of rain fell just today alone so people were out and about with their umbrellas and everybody has been asking, what does this mean for the high sierra? this is our weather camera in the greater lake tahoe area. we did have two feet of snow above 7,000 feet but for the most part high temperatures there today was in the upper 40s. a very warm storm. but right now, it's live, it's high-def doppler radar. it's still picking up some very light precipitation. primarily around highway 101 for the evening commute. anywhere from morgan hill all the way into gilroy but that's it. the system is out of here after producing some copious amounts of rain today. a third of
: the economy likely created just 80,000 new jobs last month down dramatically from the 171,000 in october. the unemployment rate could inch up to about 8%. we were at 7.9% last month. this falloff in job creation is likely due to a combination of the effects of superstorm sandy but also worries over the "fiscal cliff." >> jill, when can we expect to see the sandy-related impact diminish? >> reporter: to gauge the effect i went back to the data after hurricane katrina. katrina was a larger storm but sandy struck an area with a larger population so i think the impact on employment might look pretty similar. it took two months after katrina to return to the previous trend job growth. that means that hopefully by january, things should settle down in the data and we'll have to endure a couple of rotten months on the way. >> there we go. and we have this thing that "fiscal cliff," that so-called "fiscal cliff" "fiscal cliff" that we're sick of. how is that going to impact the whole job situation? >> reporter: you know, for a while it looks like it wasn't going to but in recent surveys we see t
of the illness. it should be pretty protective. >> pelley: jon, thanks very much. the economy got some vital signs that are improving today. a report says that builders increased their spending in october by the biggest amount in five months, a sign of the housing recovery. and detroit's big three are putting more cars in american driveways. g.m. says its sales were up 3% last month, ford's were up 6% and chrysler sales were up 14%. there's a vehicle on mars that's revealing secrets from the planet's ancient past and we'll have that next. day gift list. aww, not the mall. well, i'll do the shopping... if you do the shipping. shipping's a hassle. i'll go to the mall. hey. hi. y'know, holiday shipping's easy with priority mail flat rate boxes from the postal service. if it fits, it ships anywhere in the country for a low flat rate. yeah, i know. oh, you're good. [ laughing ] good luck! [ male announcer ] priority mail flat rate boxes. online pricing starts at $5.15. only from the postal service. military families face, we understand. at usaa, we know ñ2milita?lry life is differe. we've been t
reduction instead of being pumped into the economy. heidi cherholts is an economist. >> it's less money for consumers to spend that means the demand for goods and services will drop. who provides goods and services? workers. so employment will fall. >> reporter: those in favor of allowing the tax cut to expire argue money for social security payments has to come from somewhere. with although mejia says that somewhere will mean doing without some of the basics. >> might be a pair of sneakers. might be that jacket that they want to go to school with in the winter. might be those pair of boots that they want to go and keep warm. >> reporter: for john mejia, the debate in washington is not about the federal budget it's about his family's. jim axelrod, cbs news, west new york, new jersey. >> pelley: well, a lot of families with tight budgets will be happy to hear this next story: the housing market is coming back. we got a report today that says home prices in october had their biggest gain in six years. up more than 6%. sales have been rising, too. we haven't seen news like this since the h
of being pumped into the economy. heidi sherholtz is an economist. >> it's less money for consumers to spend, that means that the demand for business services will drop, who provides goods and services, workers, so employment will fall. >> reporter: those in favor allowing the tax cuts to expire argue money for social security payments has to come from somewhere. although john says that somewhere will mean doing without some of the basics. >> might be a pair of sneakers. >> reporter: might be a jacket. might be those pair of boots that they want to go there and keep warm. >> for john the debate in washington is not about the federal budget it's about his family's. jim axelrod, cbs news, west new york, new jersey. >> early this morning a tentative deal was reached to end the strike that shut down this nation's largest port complex. workers are expected to return to work this morning. clerks at the ports of los angeles and long beach, california had been on strike for eight days. the deal was reached hours after federal mediators entered the talk. the port handles a billion dollars wo
-class families in a struggling economy. >> we don't go out to eat much. we don't spend-- we don't go to the movies much. >> we do a lot of thrift store shopping for my kids for clothes. >> reporter: shawn was unemployed for a year in washington state then two years ago he got a job as an accountant with the federal government so the family of six-- their savings depleted-- moved across the country to woodbridge, virginia. his salary of a little more than $70,000 is less than what he used to make. >> before we lost our job they were in-- two were in piano and we haven't been able to do things like that. >> reporter: what's the hardest part of this? >> for me it's my kids, knowing that i want more for them. my oldest, who's the one that's most aware of what we've been going through the last couple years she asked me recently, this summer, she's like "mommy, when are we going to stop feeling like we're poor." i was like, "honey, it's not that we're poor, we just can't do a lot of things that other people do." >> reporter: sean and jody say it's soon going to become even tougher because
-855-999-1399 or visit exelonpatchoffer2.com. call 1-855-999-1399 >>> outside pittsburgh a town hit hard by the economy is finding strength from its local football team. as wyatt andrews reports, the team is beating the odds and lifting the community. >> reporter: clarendon, pennsylvania is a proud steel mill town, but more than 10,000 jobs have been lost over decades, poverty has doubled the national average and most of downtown is boarded up. the one public school is so small the state might have closed it by now except for one extraordinary thing. the clarendon bears high school football team. this weekend the bears are in the playoffs to win a fourth straight state championship and their winning streak of 61 games is the best in america. >> we're making history, we're making a name for ourselves. >> reporter: one of the team's stars, tarish webb says the secret is the team's seniors. they've played together since they were 6 years old in midget football and grew up determined to win for themselves and for the town. >> if we lose that's actually letting them down so we owe to it the town. >> somebod
brooks cbs money watch.com. >> better than expected news for wall street and the overall economy. the labor department reporting a gain of 46,000 jobs in november with the jobless rate fall frog 7.9 to 7.7%. economists were expecting a gain of around 75 to 95,000 jobs with hurricane sandy depressing hiring. now, it's not all good news. the labor department went back and revised september and october lower by combined 49,000 jobs. and the labor participation rate fell in november. that was likely an effect of sandy. 350,000 or so people stopping their search for work. that's what brought the unemployment rate down. not a great report but still a little bit better than what some people were forecasting. the apple a samsung case going on in federal court in san jose. the judge told lawyer for both sides that she may reduce the original award of one billion dollars saying jurors may have miscalculated the damages. but the judge may also enact sales bans against several older samsung devices so that could go either way. samsung trying to get a whole new trial in this case. >>> stock m
will be 3.5 percentage points. the economy is growing two percentage point. subtract 3 1/2 and that is a severe recession. >> reporter: republicans will be blamed if there is no agreement say the president is acting in bad faith. >> i think it's fair to say that the president is not interested in a balanced agreement, is he not particularly interested in avoiding the fiscal cliff and he's clearly not interested at all in cutting any spending. >> reporter: but behind all the public posturing, there is still contact between the president's office and the speaker's people. and between the two men themselves. but everyone else is out of the loop. and there is some confidence, at least here at the white house, that they can find a solution. norah, charlie? >> bill plante, thanks. >>> november jobs report is out. rebecca jarvis is here. good morning. what do the numbers tell us? >> things are looking a lot better than we were anticipating. 146,000 new jobs created in the month of november. unemployment rate dips to 7.7% and there's two big reasons to why the report came out bet
. the government says the storm played only a minimal role as the economy added 150,000 jobs. the unemployment rate fell to 7.7%, and that is a .2% drop. but those numbers were helped by people who stopped look for work and were not counted as unemployed. >>> on wall street, the dow is up 81 points. the s&p 500 edged up four. however, the nasdaq dropped 11 points. >>> the edge of the fiscal cliff is fast approaching. only 25 days away and going over it threatens to ruin the holidays for millions of americans. cbs reporter danielle nottingham says republicans are waiting for the president to make the next move. >> vice president joe biden at lunch with middle class americans who will take a $2,000 hit if their tax cuts expire at the end of the year. >> this is no time to add any additional burden. >> while the white house is pushing congress to renew middle class tax cuts, the president says he won't take any deal that extends tax cuts for the wealthiest americans. honor of the pearl harbor ak this is the only night of te year the beacon will shine. hared their fi >> it would take 15 minutes by the
shaky economy we are seeing now. what i feel bad for those employees are the shoppers come in at 3 a.m. to ride the ferris wheel after enjoying the city a little too much. >> they are beating the crowds. >> people like us. >> that's true. [ laughter ] >> ashley morrison of cbsmoneywatch.com, thank you. >>> all right. time for a little weather and finally we can say hey, no rain or not a lot. >> no rain today. we have some more coming but i want to show you some impressive storm totals we had in a couple of minutes over the last few days. but outside right now, it is quiet. high-def doppler radar is showing you, yup, no raindrops out there right now. and likely it will stay that way all day long. that's the first time we have been able to say that in some time. but there's another storm there in the pacific that's going to be come our way of temperatures out the door right now, you have a lot of clouds outside. 41 degrees chilly in santa rosa. 44 san jose. 49 degrees in san francisco. how about the storm totals? boy, what a series of storms we have from wednesday through sunday. here
rates, the economy, and public safety. the top three videos came from saint ignatius high school, the academy the arts and science and lincoln high school. >>> inmates in the south bay are using their woodworking skills to put smiles on kids' faces this holiday season. the santa clara county sheriff's office and the department of corrections donated 350 toys to the toys for tots program and they were all made by elmwood facility inmates in milpitas. they range from a car to those rocking horses. >> definitely i would love to have kids see that i have put, you know, toys together for them and, you know, just good seeing those things go out to them. >> over the last 12 years, elmwood inmates have made more than 3,000 toys for children. >>> and coming up in our next half hour, emergency services on the chopping block. the bay area city that could lose its only fire station. >> on the 8th day of the port strike in southern california, new action to try to put an end to it. >> he's making cynical comments, like filthy comments. >> then the target worker got hit by a comedian the othe
get housing back, that would go a long way towards full recovery for our economy. obviously take away the home mortgage interest deduction is the very last thing the housing market needs. i'm not saying it would hit every home buyer but a home is an investment. if we lower the return on the investment, well, you get the picture. this bad idea has pay parentally meant the substitute for a tex increase on the wealthy. this is strange. the rich by definition are rich. that's why they're called rich. they could afford to pay more tax. the middle income home buyers or some of them need that mortgage interest deduction to buy. so you have the question, do we want to clobber housing hurting millions of home buyers, builders, construction worker and timber people or tax the people who have a bentley? how could this even be an open question? observe, my friends, with what little wisdom the world is governed. >> osgood: commentary from ben stein. now to bob scheiffer in washington for a look at what's ahead on face the nation. good morning, bob >> schieffer: good morning, charles. well, we've g
Search Results 0 to 30 of about 31 (some duplicates have been removed)